* Symbolus Digital is the official website for Symbolus Group, which is the merge of Symbolus Investments AM into Symbolus Patrimonial, managing both Personal Finances and Investments of its controller.
Here are the Portfolio Highlights for April 2024, with the major events in our finance and investments.
Personal Finance
We’re currently monitoring the fast growing monthly expenditures (+14.0% for Jan-Apr ’24, YoY), most of them as a result of growing essential costs, although slower than income increase for the same period (+26.8%). Taking a few extra expenses, non-recurrent, was necessary and we tend to keep them under strict control.
Annualized average monthly dividends from investments (ex-capital gains) for the first third of 2024 has decreased from 3.3% over Gross Income (Jan-Apr ’23) to 3.0% YoY, partially due to seasonality, but also for growing cash reserves (awaiting for better investment opportunities, following our portfolio diversification strategy).
Considering only Personal Finance, Net Profit for Jan-Apr’ 24 was 46.6% (41.5%, 12-month SMA), +6.0 p.p. YoY.
XSD Multiplus
XSD Multiplus is the investment portfolio by Symbolus Investments. It was created aiming at appreciation of savings of its controller.
The four key asset classes: Equities, ETF, Crypto-assets & Reserves.
The six key equity sectors in which we invest in: Energy, Real Estate, Tech, Utilities, Capital Goods & Industrials.
Performance
XSD Multiplus (in USD) was up 3.74% on April 30th, 2024, from its inception, but 6.09 p.p. lower than on late March closing. Total return (considering paid dividends and capital gains) at same moment has reached 6.24%.
The worsening on macro scenario and interest futures spike have hit hard on our assets. And we expect a scenario even more challenging ahead with presidential elections on USA late this year and inflationary pressures due to growing government deficit haunting markets.
Annualized volatility of our Portfolio in a daily basis reached 16.9% (13.7% for a 14-day SMA basis).
Uncertainty & Perspectives
By early this year, we were not much confident on FED rate cut story by June ’24. Then, we kept on piling up cash reserves while opening & increasing mostly defensive positions, such as in major oil & utility companies, but not leaving tech opportunities and growth assets, such as Cosan (CSAN).
We believe oil & gas will keep their role on global economies for more over a decade. There is no chance of the energy transition taking place in the radical way the globalists of the ESG cult wish to push. This will give enough time to energy companies to adapt themselves to the new scenario.
Also we wait for a further correction of major tech assets in order to increase our stake on iShares US Tech ETF (IYW), given we prefer not to concentrate in any tech asset yet. Even in a scenario of inflationary pressures and higher rates for longer, we expect that companies focused on technology and AI, with robust free cash flows, will weather any turbulence well.
Our Real Estate positions are doing well, even with negative return. Most future perspectives for them are good. We are concerned only with Realty Income (O) and its late moves in the sector. Curiously, Realty Income position has best performance as so far among Real Estate assets. It seems higher multiples keep being the preferred for dysfunctional market investors.
We got very happy with the opportunistic swap of Petrobras (PBR) for Chevron (CVX). Even with less attractive overall multiples, sometimes sleeping well, far from unnecessary political risks, is better than getting in a riskier value trap position. However, we shall enter Petrobras again as soon as its stock price plunges enough and offers us a good safety margin.
Yield & Profits
In the early four months of 2024, our portfolio earned a total of $80.85 out of $8,122.61 invested, representing a yield of 0.99%, or roughly 2.99% annualized as so far. We consider our
Recently, we have decided to sell our position in Comfort Systems (FIX) with 49.3% of profit and to increase cash reserves. We really appreciate the company, but its price was lighting red for an obvious top resistance. We expect a price correction soon. If we see a recession, FIX stock price shall be discounted since it depends on real economy to do well.
Current Holdings
Symbolus Digital 